All Topics / Legal & Accounting / Does Council rates valuation cover land or land & building?

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  • Profile photo of not_so_luckynot_so_lucky
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    @not_so_lucky
    Join Date: 2008
    Post Count: 121
    March 29, 2013 - 4:37 am

    I've always thought that council rates valuation includes both land and the building. But is this correct?

    Profile photo of PLCPLC
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    @plc
    Join Date: 2012
    Post Count: 400
    April 1, 2013 - 12:43 pm

    Not too sure about other states but in Victoria, the rates notice shows Site Value which is the land value, and the Capital Improved Value which is the land plus building. How close these values are to actual valuations that lenders would come up with is very debatable.

    Cheers

    Tom

    PLC | Phoenix Loan Consulting
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    Melbourne based Mortgage Broker | Making Finance Simple

    Profile photo of not_so_luckynot_so_lucky
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    @not_so_lucky
    Join Date: 2008
    Post Count: 121
    April 6, 2013 - 1:18 am

    Thank you Tom

    Profile photo of Scott No MatesScott No Mates
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    @scott-no-mates
    Join Date: 2005
    Post Count: 3,856
    April 8, 2013 - 3:29 am

    The values provided vary from state to state & are for ratings purposes only. These may or may not resemble the value of your property as bulk valuation methods are utilized

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